On December 18, 2015, President Obama signed legislation to reinstate retroactively the IRA charitable rollover for 2015 and beyond. The provision allows each IRA owner who is 701/2 or older to make direct transfers of up to a total of $100,000 per year to Blair Academy and other qualified charities. The IRA charitable rollover is tax-free and not included in adjusted gross income.
Good news! The Charitable IRA Rollover legislation that permitted individuals at least 70½ years old to make tax-free charitable distributions from IRAs has been reinstated for 2015 and made permanent.
For more information, please contact:
Assistant Director of Advancement for Capital Giving
(908) 362-6121, ext. 5634
The material presented on this website is not offered as legal or tax advice.